Public Limited Company Registration in Coimbatore - Corpstore

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Public Limited Company Registration in Coimbatore
is Crucial To Your Business. Learn Why!

• Company is a legal business structure and it is
  an artificial person which has perpetual
  succession. Due to increased demand and
  competition in the market, definitely you need to
  set up a company. And also that company which has
  been set up should be registered. It has a common
  seal which is the official signature. There are
  many kinds of companies like private limited,
  public Ltd, One Person Company and so on.
• In this blog we have to look upon Public Ltd
  Company Registration.

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What is a Public Ltd Company?

• The company is said to be a Public Ltd Company
  when it is allowed to offer the shares to the
  public. In a public limited company the
  liabilities are limited and this acts as a
  separate legal existence. It is the voluntary
  association of the people. The formation, its
  working, delegations, dividing of the shares and
  the winding up procedure are entirely governed by
  law. The ownership of the public Ltd company is
  completely based on the shares of the stock. It
  can have free trade on the stock exchange. The
  shareholders have the risk to share to the
  public.  Public Ltd Company Registration has been
  implemented through the Company Act (2013). The
  power of decision making relies upon the Board of
  Directors. This shows the unity among the
  directors in the management.

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Eligibility criteria for setting up of Public
Company

• For setting up of Public Ltd Company, it
  definitely needs a minimum seven members and at
  least one must be the resident of India.
• All the members should be above 18 years of age.
• There is no maximum number of the members
  specified.
• The company collects the amount by selling the
  shares and the amount collected is called the
  share capital.
• It requires seven shareholders and three
  Directors.
• The company should be registered with the
  companys house.
• Companys name should be unique because it
  should not resemble the existing companies
  names.

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Documents required for registration

• For  Public Ltd Company Registration, it requires
  the below documents
• Photocopies of PAN for all the Directors or the
  promoters.
•  It needs photocopies of the address proofs of
  the directors or the shareholders.
• The address proofs include Aadhaar card, voter
  ID.
• Latest passport sized photographs are also
  needed.
•  If the office is rented in a particular place
  NOC of the landlord is needed.
• The residential proof is also required.
•  As required generally, DIN (Director
  Identification Number), DSC (Digital Signature
  Certificate) of all the directors needed.
• Article of association, Memorandum of Association
  is also needed.

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Registration Procedure

• Public Ltd Company name selection
• Name Approval from MCA (name should have the
  suffix limited)
• Get Digital Signature Certificate
• Get Director Identification Number (DIN)
• Generating MoA AoA
• Generating the Public Company Incorporation
  Certificate

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    Advantages of Public Ltd Company

• The Public Ltd Company has its own advantages
  since it involves the general public. Companys
  borrowing power is great.
• The public limited company can raise the funds
  from the public so easily.
• If any of the shareholders is absent or demised,
  then it will not affect the existence of the
  Public Limited Company.
• Generally the shares are listed on the stock
  exchange, so that there is an easy
  transferability of the shares.
•  It encourages the public to make investment
  willingly.
• Since the public is involved in the company there
  is transparency in the management.
• It is an artificial person, so that it is
  protected legally.
• More funds will be granted to forward many
  researches and development.
• There is liquidity in the public limited company.

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How to convert a Private limited company into a
Public Ltd company?

• We can convert private ltd company into Public
  Ltd Company by two ways Conversion by default and
  conversion by own violation.

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Conversion by own violation

• Conversion by own violationsays that the company
  name can be changed by passing a special
  resolution, in a manner provided in Section 21. 
  It can be occurred by passing a particular
  declaration. Also it can be obtained by approval
  of the central government by the delegation
  registrar of companies. Approval of ROC is not
  important and in conformity in provision of the
  Act, of a public Ltd company into Private Limited
  company.
• The name must be changed from private to public.
  The articles must be altered to delete the
  prohibitions, restrictions and limitations
  contained in Section 3(1). And increase the
  number of members more than fifty. Hence
  necessary decisions are taken in the board
  meeting. Filing to form no.29 is not required by
  a private limited company to be converted
  into public limited company. On issuing of fresh
  certificate the company name is to be changed and
  converted into new company. It is the final stage
  of a  company Registration.

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Conversion by default

• A private limited company is required by law to
  provide by its articles for the following namely
  restrictions on the rights to transfer its
  shares. Restrictions must be made on the maximum
  number which should not exceed fifty.  Public ltd
  company Registration insists also prohibition on
  any request to the public to approve for any
  shares in or debentures of the company
  registration is to be approved. There must be the
  period on any approval or invitation of deposits
  from persons other than its directors, members or
  relatives.
• It is costly as there are a lot of formalities
  for commencing. The shareholders do not take part
  in day to day management of the business. It is
  widely dealing with publics money so it has to
  make heavy compliances strictly.
•  It has to do annual compliances to be made
  by public limited company with ROC/MCA, SEBI, and
  RBI etc. Other finance opportunities are
  possible. Banks and other financial institutions
  are willing to extend finance to a public company
  to the one that is listed.
• The prestige and confidence are increased. If it
  is listed on the stock exchange it can attract
  the media attention. 
• Few disadvantages are At worst company can
  become vulnerable, to a hostile takeover. Also
  there is added pressure imposed on the market.
  The companys share price represents value of the
  company as viewed by the market. The brand value
  increases. It gives feeling of trust, confidence
  to customers, vendors, employees and
  stakeholders. So it is important to register the
  public limited company.

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Registration in Coimbatore in a timely manner. We
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